ltc properties inc (LTC) Key Developments
LTC Declares July, August and September 2015 Dividend for the Third Quarter of 2015, Payable on July 31, August 31 and September 30, 2015, Respectively
Jul 1 15
LTC Properties Inc. announced that it had declared a monthly cash dividend on its common stock for the third quarter of 2015. The Company declared a monthly cash dividend of $0.17 per common share per month for the months of July, August and September 2015, payable on July 31, August 31 and September 30, 2015, respectively, to stockholders of record on July 23, August 21 and September 22, 2015, respectively.
LTC Properties, Inc. Acquires Chicago Metro Area Land Parcel
Jun 8 15
LTC Properties Inc. announced that it has acquired approximately 3.5 acres of land in Tinley Park, Illinois for approximately $700,000. The company also made a development commitment to fund the construction of a 66-unit memory care community on the newly acquired parcel in an amount not to exceed $11.2 million. The new project is scheduled to open in the summer 2016. The land parcel was added to an existing 10-year master lease with an affiliate of Anthem Memory Care. The Tinley Park community is one of two projects under development in the Chicago metro area with Anthem. The other is a 66-unit memory care community in Burr Ridge that is expected to open in the fourth quarter of 2015. Additionally, Anthem and LTC have a parcel of land currently under contract in Glenview, also located in the Chicago metro area, on which development of a memory care community is scheduled to commence later this year subject to completion of due diligence. The Glenview project will bring to seven the number of private-pay, memory care development projects with Anthem, four of which are operational.
LTC Properties Inc. Announces Restatement to its Bylaws
Jun 5 15
On June 2, 2015, the Board of Directors of the LTC Properties Inc. has restated the bylaws of the company. The bylaws, as restated, consolidate the amendment previously adopted on February 10, 2015 without any substantive changes.
LTC Properties Inc. Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-09-2015
May 30 15
LTC Properties Inc. Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-09-2015 . Venue: New York Hilton Midtown, 1335 Avenue of the Americas, New York, NY 10019, United States.
LTC Properties Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
Apr 30 15
LTC Properties Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. Funds from Operations increased 4.5% to $23.4 million for the 2015 first quarter, up from $22.4 million for the comparable 2014 period. FFO per diluted common share was $0.65 and $0.63, respectively, for the quarters ended March 31, 2015 and 2014. Net income available to common stockholders increased to $16.6 million, or $0.47 per diluted share, for the 2015 first quarter, up from $16.1 million, or $0.46 per diluted share, for the same period in 2014. The increase in FFO and net income available to common stockholders was primarily due to higher revenues from mortgage loan originations and completed development projects, partially offset by higher interest expense resulting from the sale of senior unsecured notes and utilization of line of credit as well as additional general and administrative expenditures related to investment activity and vesting of restricted stock. Total revenue was $31,480,000 against $29,438,000 a year ago. Operating income was $17,436,000 against $17,004,000 a year ago.